Artist drawing of a supersonic jet designed to fly at speeds up to Mach 1.4 or approximately 1,000 miles per hour.

Aerion Corporation

Aerion Supersonic, the Nevada-based company that planned to build business jets capable of silently flying nearly twice as fast as commercial aircraft, is shutting down, the company confirmed to CNBC on Friday.

“In the current financial environment, it has proven hugely challenging to close on the scheduled and necessary large new capital requirements” to begin production of its AS2 supersonic jet, the company said in a statement.

“Aerion Corporation is now taking the appropriate steps in consideration of this ongoing financial environment,” the company said.

Florida Today first reported the company’s abrupt closure.

Aerion aimed to fly its first AS2 jet by 2024, with the goal of beginning commercial services by 2026. The company developed a patented technology it calls “boomless cruise,” which it said…

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